I was just thinking the same thing. My 25 year old and his wife, and quite a few of their married friends, around the same age, have bought houses. And there are some good deals to be had, at extremely low interest rates, a little elbow grease and cosmetic work and their equity has increased. Buying is cheaper than renting, rents around here have not gone down one bit, in fact maybe are higher (around $1000 a month), while the housing market plunged, and mortgage interest rates are in the mid 3%'s.
But what's interesting, as you mentioned, I know all these young adults are from conservative families.
I said the other day, I don't know one person in that age group that does not have a job. My nieces, nephews (and there are a slew of them)...my son and DIL's friends, young people at church, and they all have jobs. Some of them are not full time, especially for the ones still attending college, but they have income.
I wonder about the no jobs numbers, because I don't see them in our "circle."
“I said the other day, I don’t know one person in that age group that does not have a job. “
I have no doubt that in many industries like construction and manufacturing, and in many locations, people are definitely unemployed and the prospects look bleak, but like you I don’t have a single unemployed friend. Not a one and all are high income people.
My Generation Y boys are already married and off to a good start, too. One is 28 and just bought a townhouse for himself and his young bride. He said he finally feels like a man. I feel blessed all three finished college with no debt. Virginia schools are affordable. Thanks to the good Lord and Mr. HokieMom. Congratulations to you and your family!